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2 Recent Policies Adopted By The Federal Government That Have Made Negative Impacts

There is no doubt that the success of every government depends on how effective its policies are. This explains why the government takes stringent measures to ensure that its policies are enforced. Some policies go a long way to help the government achieve its set objectives, while badly formulated policies end up backfiring, setting back the hand of the clock for the government, and worsen the situation they aimed to ameliorate.

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In Nigeria, the government has adopted several policies at one point or another, aiming to alleviate the sufferings of the masses. While some of these policies have performed wonderfully well, some others have flopped barely a few days or weeks after its adoption. In this article, I discussed below, 2 recent policies adopted by the federal government that have made negative impacts.

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1. Shutdown of Telecommunication Services in Zamfara State

It is no longer news that the Nigerian Communications Commission (NCC), recently ordered telecommunication operators in Zamfara to shutdown their services. The decision was informed by the need to tackle rising insecurity in the state. There is no doubt that the government had believed that shutting down the service would impact negatively on bandits operating in the state, and make it easier for security agents to round them up.

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Despite the confidence of the government on how shutting down telecommunication services would help win the war against banditry in Zamfara, the policy has been unable to stop the bandits from carrying out attacks in the state. Instead, a failure in communication between security agents, helped the bandits to carry out a successful attack on a military base in Zamfara, killing about 12 security officers in the process (source: Daily Trust).

2. The CBN Ban on Sales of Foreign Exchange to Bureau De Change Operators

In July 2021, the Central Bank of Nigeria (CBN), banned the sales of foreign exchange to Bureau De Change operators in the country (source: The Guardian Newspaper). According to the report, the CBN Governor, Godwin Emiefile, who made the announcement on live TV, alleged that Bureau De Change has become a conduit for illegal cash inflow into Nigeria.

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A few days after the ban was placed, the country’s currency, Naira, began to plunge into an all-time low in its history. It should be recalled that at the time the ban was placed on sales of foreign exchange to Bureau De Change operators, Naira was about 450 to a U.S dollar. However, barely 2 months after the ban, Naira has plummeted to as low as about 570 to a dollar (source: Premium Times).

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Considering the negative outcome of the two policies discussed above, it has become important that each time a new policy is to be adopted, the relevant authorities should take their time to weigh the pros and cons of such a policy before it can be adopted. Arguably, this could help to prevent adoption of policies that are capable of backfiring, and setting back the hand of the clock for the government.

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